Japan’s Metaplanet Increases Bitcoin Holdings by 42 BTC

Metaplanet Inc, a Japanese company often viewed as an imitator of MicroStrategy, has recently expanded its Bitcoin holdings by acquiring additional units of the cryptocurrency. This marks the second purchase made by the publicly traded company within the same month.

### Metaplanet’s Bitcoin Holdings Surpass 203 Units

Recognized as one of the early adopters of Bitcoin in Japan, Metaplanet has announced the acquisition of 42.466 Bitcoin for 400 million yen, approximately $2,485,280. The average cost per Bitcoin in this purchase was around 9,419,300 yen, or $58,534.36. Given the firm’s prior investments, this purchase is viewed as a significant opportunity to buy at a discount.

Following its last acquisition, the price of Bitcoin declined by 11.2%, providing a favorable entry point for Metaplanet. The decision to purchase Bitcoin as a publicly traded entity underscores a strong belief in the cryptocurrency’s potential for future growth. Emulating strategies from MicroStrategy, Metaplanet’s proactive buying behavior has attracted attention in the market.

With this latest purchase, Metaplanet’s total Bitcoin holdings have now reached 203.734 units, acquired for a cumulative investment of 2.05 billion yen, or approximately $12,743,107.50.

### Long-Term Strategy

Metaplanet’s ongoing accumulation of Bitcoin aligns with a long-term strategy to hold the asset until it reaches unprecedented price levels. MicroStrategy, which began acquiring Bitcoin in 2020, has sold its Bitcoin only once during this period, showcasing a commitment to long-term holding.

While many traders remain wary of market volatility, as evidenced by recent fluctuations, both MicroStrategy and Metaplanet view such movements as opportunities to enhance their holdings.

As of now, the price of Bitcoin is trading at $56,139.52, reflecting a decrease of 2.22% over the past 24 hours. It remains to be seen if MicroStrategy will take advantage of this price dip soon, but Metaplanet’s actions are certainly a focal point within the cryptocurrency ecosystem.